- Lending business scales to 1.9 million loan disbursals during the month, y-o-y growth of 331%; aggregating to a total value of INR 921 Cr (y-o-y growth of 334%)
- Offline payments leadership strengthens further; number of devices deployed stands at 2.3 million
Mumbai, 16th February 2022:One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading digital payments and financial services company, has today shared its business updates for January, 2022. The company has witnessed accelerated growth in its lending business, while it further deepens its leadership in the offline payments segment, which has resulted in the highest ever growth in Monthly Transacting Users and continued growth in its GMV.
Paytm spokespersonsaid, “Paytm is witnessing a broad growth across our platform as we continue to register increased adoption of our lending products, Paytm Postpaid (BNPL), merchant loans and personal loans. We are also continuously expanding our offline payments business, with more devices being deployed across the country. Our efforts are seen in the trust our consumers and merchants place in us, as we see record user engagement on the platform.”
Lending witnesses accelerated adoption: Number of loans disbursed through our platform grew 331% y-o-y to 1.9 million loans in Jan 2022, while the value of loans disbursed was Rs 921 Cr, an increase of 334% y-o-y. The business saw increased adoption of our lending products, despite some temporary impact of Omicron over a short period of time on merchant lending disbursal volumes.
105% y-o-y growth in GMV:GMV processed through our platform during January-22 aggregated to approximately INR 83,481 Cr ($11.2 billion).
Records highest-ever user engagement: Average monthly transacting users (MTU) in
Jan 2022 were 68.9 million, growth of 40% Y-o-Y.
Over 2.3 million devices deployedacross the country as of the end of January 2022, a measure of our offline payments leadership.
This article was shared with Prittle Prattle News as a Press Release.
